Today i am going to write about the most important topic which is why so many people lose their hard earn money by trading crypto currency. But first of all let me tell you this the article i am about to write is not copied from anyone i am sharing this knowledge from my own trading experience. I also lost so much especially trading forex. So from that lost i learned some very important thing which i am about to share.
First thing is DISCIPLINE, the most important thing you need to focus on is discipline. Let me explain it so you can understand my point. Okey ask yourself when you invest your hard earned money do you know fully that the project or coin you're going to invest in has potential to grow or not. I think so many people ignore that & the other thing is trading plans or rules . Trust me trading plans are by the most important thing you should focus on.
But Why ??
Lets say you're buying bitcoin now at 7000 USD price point. But if you don't know when to sell or exit from the market then you will lose money for sure. Because every time the price will spike you will get greedy & think what will happen next you will not exit from market & after that when market will crash most of us will get nervous & will sell their assets at very low price. What most us doing this year. Right??
But instead of that if we create a proper trading plan like if we create a proper RISK : REWARD ratio. Then we will never lose money in trading if we use it properly. How RISK : REWARD works & how to create a proper risk : reward ratio, i will write about that topic in my next blog.
Hope you find some value from my blog.
What's your thoughts on my article. Do you agree with me.? Share your valuable thoughts below.
Thanks for your time.
Dhanjyoti Kalita
People want to become rich overnight. https://steemit.com/mgsc/@navesumar/how-to-file-a-case-in-consumer-courts
That's the main problem
People fail beacause they dont have patience
Exactly my friend
Patience is the key to hodl power.
I totally agree with you.
One most important reason is panic selling most people loose in crypto is because of panic selling.
On point. That's why we need to follow our rules properly. No matter what. 80% people loss money because of their emotions.
Crypto isn't the place where we become rich in one two or few days.. hodl and patience play a very imp part in crypto trading.. thanks for sharing.. good post..
Yes. Crypto isn't a rich quick scheme.
@dhanjkalita
If you have no experience do not more invest in crypto.
Please invest minimum money and trade.
Yes that's right my friend
Investing is one of the most trickiest thing, Do research before doing it.
Yes i always do. What about you?
until and unless you sell your coin you are still rich
At low price
the truth has been spoken, lol!
Ha ha. Good one
Yes even I have lost a lot
In forex or crypto bro ?
@dhanjkalita you explained the reality in an excellent manner bro. Keep it up.
Glad you like it mate. Thanks
i think those who are new in crypto they were afraid when the price falls and they sell the coin to avoid big loss
Yeah i think so.
@dhanjkalita Good one my friend.
Thanks my friend
https://steemit.com/mgsc/@pawanain/supreme-court-of-india-denies-the-stay-rbi-s-virtual-currencies-circular
Upvt and comnt
Great, Even I lost a lot of my hard earned money in Crypto, but understood how it works. Keep posting such experiences